Centre lists black money hoarders in Germany

Additional Solicitor General Parag Tripathy said that there are about 26 account holders, including trusts from India.

The names of the account holders were given to the apex court in a sealed cover. When senior advocate Anil Divan appearing for noted jurist Ram Jethmalani sought a copy of the report, a bench headed by Justice B Sudershan Reddy said it would take a decision only after going through it.

The apex court had directed the Centre to file its response to a plea filed by Jethmalani seeking direction to bring back unaccounted money by Indians stashed in foreign banks.
The government also submitted that the investigation has been carried by the Enforcement Directorate against Pune-based businessman Hasan Ali Khan for violation of the Foreign Exchange Management Act in transferring large amount of unaccounted money.

Divan submitted that the government did not initiate action against the accused named in the petition who have allegedly stashed away crores of rupees of unaccounted money in foreign banks under the Prevention of Money Laundering Act.

‘Govt not serious’

Divan said, as alleged in the petition, that the government was going light against Khan and Kolkata-based Kashinath Tapuria, both of whom had stashed away crores of rupees with the UBS bank illegally evading tax authorities.

“Why has the source of money of such large amounts, for which income tax notice raising a demand of Rs 71,848 crore was made, not being investigated under the Prevention of Money Laundering Act, 2002?’’ asked Divan. He said Jethmalani and other petitioners such as Punjab supercop K P S Gill,  Subahsh Kasyap, Congress Rajya Sabha member BB Dutta, Gopal Sharman and Jalabala Vaidya are not affiliated to opposition BJP as alleged by the government in the petition.